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Amazon is expected to show bigger profits when it reports second-quarter earnings on Thursday evening, backed by the continued growth of its higher-margin businesses, like cloud, advertising and third-party marketplace.
Wall Street estimates Amazon to post second-quarter profit of $2.50 per share, or roughly $1.2 billion, according to a Thomson Reuters consensus estimate, up from the 40 cents per share reported a year earlier.
That would be nearly a six-fold increase from the year-earlier period, and the third consecutive quarter of surpassing $1 billion in profits. Amazon’s quarterly profit topped the $1 billion threshold for the first time in the fourth quarter of 2017.
“We think strong growth of Amazon’s higher-margin businesses ... will be the key takeaway from second quarter and can continue to drive optimism on profitability,” Bank of America analyst Justin Post wrote in a note this week.
Here’s what Wall Street is expecting:
In the second quarter, Amazon rolled out Prime member savings in all Whole Foods stores nationwide, while expanding Whole Foods delivery in more cities, including Chicago, Houston and San Antonio.
It also made its first official move into health care by acquiring online pharmacy PillPack and launched new initiatives like a service that delivers packages directly to the trunk of a customer's car.
Sales from Prime Day, which took place earlier in July, will not be included in the second-quarter results. Investors will look to third-quarter guidance to get a sense of how successful Prime Day was.
As of Wednesday’s market close, Amazon had a market cap of $890 billion, trailing just Apple, which stands at a $950 billion market cap, in its race to become the world’s first $1 trillion company. Amazon needs roughly a 12 percent bump to get to $1 trillion, which is achievable with a strong earnings beat on Thursday.
Here are the some of the most important topics that could get discussed during the earnings call: